The global x-ray detectors market is anticipated to witness growth over the forecast period, driven by growing innovation in technology coupled with introduction of effective x-ray devices such as filmless imaging machines. Reducing prices, better image quality due to technical advancement, and strong support by venture capitalist firms for providing funds are also expected to trigger the market growth in the coming seven years. In addition, increasing the geriatric population base, growing awareness about the radiography system, favorable government initiative, and heavy investment in research and development are vital factors expected to drive the global x-ray detectors market over the forecast period. Developing countries such as China, Brazil, and India are expected to witness lucrative growth due to continuous development of wireless x-ray detectors and growing medical tourism in these nations. Furthermore, increasing disposable income, rising incidences of joint injuries, and demand for early-stage disease diagnosis are anticipated to expand the growth of this market over the forecast period.
The global x-ray detectors market is divided on the basis of application, types of detector, and panel size. By application, the market is segmented into medical applications, security applications, veterinary applications, dental applications, and industrial applications. The medical application is again bifurcated into static imaging and dynamic imaging. In 2014, the medical application segment held the largest x-ray detectors market share owing to the large volume of procedures. The dental and veterinary segment is likely to show a high growth rate over the forecast period due to increasing incidences of dental disorders and in-vitro testing market respectively. On the basis panel size, the x-ray detectors market is segregated into small area, medium area, and large area flat panel detectors market. Due to rapid innovation in technology coupled with the growing demand for portable medical devices, small area flat panel detectors market is expected to show high growth in the coming few years. The flat-panel detector is again bifurcated into direct and indirect flat-panel detectors. By detectors type, the market is classified into flat-panel detectors, line-scan detectors, computed radiology detectors, and CCD (Charge Coupled Device) detectors.
The global x-ray detector market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA on the basis of geography. In 2014, North America was the dominant region, owing to increasing demand for minimally invasive procedures and technological advancement this region is expected to continue its lead by 2022. Asia Pacific segment is expected to show the highest CAGR over the forecast period due to increasing expenditure in the healthcare sector and growing research-based activities.
Major market players are YXLON International Gmbh, Teledyne Dalsa, Canon, Inc., Agfa, Thales, Analogic Corporation, Varian Medical System, Fujifilm Medical Systems, Konica Minolta, Inc. and PerkinElmer. The existing firms have to invest huge amount of funds into R&D to avoid being obsolete into the market. Economies of scale provide low-cost advantage to established companies in the x-ray detectors market which leads to restricting the entry of new market players.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.